
The following are rough (Blackberry jotted) notes from a panel discussion on classified and job metasearch at the Vertical LEAP Search Engine Conference.
There were a number of questions concerning the viability of job and classifieds metasearch as a business, the impact of metasearch on existing job and classified players like Monster and Craigs List, and the impact of new entrants such as Google.
Panel Participants
Moderator
John Zappe- classified intelligence report
Participants
Guatam Godhwani, simply hired
Craig Donato, Oodle
Konstantun Guericke, LinkedIn
Garrett Price, Kijiji/Ebay
Why are classifieds “hot” right now
GG: We are currently undergoing a paradigm shift– personalized aggregation of classified content. Rather than just being an advertising medium, new sites allow leads to be qualified and transactions to take place in the context of the ad.
CD: classified ads are hot because internet adoption on a local level has reached critical mass. Free changes everythung. How is free a business model? Most powerful when everything is free. Monetize further down the cycle– the qualified lead or the hire. Employers pay for real value.
The basic listing will be free– will charge us upgrades for print or virtual listings or performance. Become more of a partner with the advertisor.
GP- the community will tell us where we are adding value
How dependent are you on the willingness of unintentional partners to provide free content?
GG– choice for users has gone up. Hard for users to conduct comprehensive search. We send more traffic to each of these sites– we see you as a distribution channel.
How does social networking fit into classifieds?
KG– less applicable to classifieds for products. Real estate agents, could be relevant. High value transactions– choosing auditing, law firm, hiring. How many of you have gotten a job because someone referred you?
CD– the set of listings out there will grow more not less fragmented. Self published content and communities.
Buzz is that Google will enter a classifieds market. What impact will this have on metasearch enginges.
GG- Google will validate the market. Google is less successfuly in specialized search. Lots of specialized work required for jobs, community, etc.
Will metasearch lead to a decay in Monster’s position?
Monster charges 395 for a job. Craigs list charges 75 or free. When you aggregate all jobs are equalized. Why won’t businesses shift to the lower cost options.
GG– some users will continue to go to destnation sites. Will Monster come under price pressures? Yes, that will happen regardless of what Simply Hired does. Monster will adapt to the new environment. We think they will embrace payment for results.
KG– at linked in we are both charging for listings and aggregating via simplyhired. Offer advantages for those who pay– a pool of people who don’t go to Monster, reference checks, see connections to applicants.
GG– the winning company in the market will have the best content and community that takes them where they need to go.
Have you considered using social networks to improve relevance?
KG– LinkedIn believes that social networks are most relevant in hiring decisions and the selection of trusted professional services (real estate agents, lawyers, accountants, etc.)
What keeps users coming back to a vertical search site?
GG: we will establish an ongoing relationship that keeps users coming back